Eastern Asia: Flat Glass Market 2024

Flat Glass Market Size in Eastern Asia

After four years of growth, the East Asian flat glass market decreased by -4.3% to $X in 2021. The market value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2020, and then reduced modestly in the following year.

Flat Glass Production in Eastern Asia

In value terms, flat glass production shrank slightly to $X in 2021 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +44.5% against 2015 indices. The pace of growth appeared the most rapid in 2019 with an increase of 24%. The level of production peaked at $X in 2020, and then reduced modestly in the following year.

Flat Glass Exports

Exports in Eastern Asia

In 2021, approx. X tons of flat glass were exported in Eastern Asia; with a decrease of -13.6% compared with 2020 figures. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 30% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, flat glass exports amounted to $X in 2021. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2016 when exports increased by 11%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Hong Kong SAR (X tons) and China (X tons) prevails in exports structure, together comprising 87% of total exports. Japan (X tons) ranks next in terms of the total exports with a 5.7% share, followed by South Korea (4.7%). Taiwan (Chinese) (X tons) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +14.6%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Hong Kong SAR ($X), China ($X) and Japan ($X) were the countries with the highest levels of exports in 2021, together comprising 85% of total exports.

China, with a CAGR of +13.5%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, rising by 16% against the previous year. In general, the export price, however, continues to indicate a slight setback. The growth pace was the most rapid in 2018 an increase of 20% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.6%), while the other leaders experienced mixed trends in the export price figures.

Flat Glass Imports

Imports in Eastern Asia

In 2021, supplies from abroad of flat glass decreased by -9.5% to X tons for the first time since 2017, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +4.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 23%. Over the period under review, imports hit record highs at X tons in 2020, and then reduced in the following year.

In value terms, flat glass imports shrank modestly to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 14%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Hong Kong SAR was the main importing country with an import of about X tons, which recorded 52% of total imports. China (X tons) ranks second in terms of the total imports with a 25% share, followed by South Korea (16%). Japan (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

Imports into Hong Kong SAR increased at an average annual rate of +11.8% from 2012 to 2021. At the same time, China (+15.7%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +15.7% from 2012-2021. South Korea experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-4.6%) and Japan (-15.8%) illustrated a downward trend over the same period. Hong Kong SAR (+23 p.p.) and China (+15 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese), South Korea and Japan saw its share reduced by -4.6%, -8.4% and -24% from 2012 to 2021, respectively.

In value terms, China ($X) constitutes the largest market for imported flat glass in Eastern Asia, comprising 59% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 25% share of total imports. It was followed by South Korea, with a 7.6% share.

In China, flat glass imports expanded at an average annual rate of +7.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (+19.5% per year) and South Korea (-14.2% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, with an increase of 7.1% against the previous year. Over the period under review, the import price, however, saw a noticeable curtailment. The pace of growth appeared the most rapid in 2017 an increase of 12%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was China ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+6.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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